Friday 29 Mar 2024
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Notable filings

BETWEEN June 29 and July 3, notable shareholding changes at companies listed on Bursa Malaysia included those at iDimension Consolidated Bhd (fundamental: 1.45; valuation: 0.3), where new substantial shareholder Ang Beng Leong continued to raise his holdings in the software maker.

Between June 25 and 29, Ang’s EClub Interactive Sdn Bhd acquired 60 million shares or a 12.12% stake in iDimension. Ang first emerged as a substantial shareholder on June 25 with a 13.87% stake after his Online E-Club Management Sdn Bhd received 50 million iDimension shares, or a 10.1% stake, for selling a 20% stake in IDB Interactive Sdn Bhd for RM5 million. The 50 million shares were issued at 10 sen apiece.

Ang’s deemed stake rose to 15.895% on June 29 after  EClub Interactive Sdn Bhd bought 10 million shares in iDimension at 11 sen apiece, raising its holdings to 28.667 million shares, or 5.792%.

The seller could be Ng Min Lin, who disposed of 10 million shares on the same day. Ng, whose holdings had been reduced to 11.538% as at June 29, sold 777,800 shares on June 25.

On July 1, Online E-Club ceased to be a substantial shareholder after selling its 50 million shares to EClub Interactive for a token 1 sen apiece, but this did not change Ang’s 15.9% deemed holdings in iDimension. The stock, which closed at 12.5 sen last Wednesday, will trade “ex-bonus” or excluding entitlement to a 1-for-2 bonus warrant issue on July 13.

Over at Landmarks Bhd (fundamental: 1.2; valuation: 0.9), a July 3 filing shows that the company’s chairman, Tan Sri Zakaria Abdul Hamid, bought 8.65 million shares or a 1.8% stake on July 2 at undisclosed prices. Only 199,600 shares changed hands between RM1.18 and RM1.20 apiece on the open market that day.

Separate filings show that on July 2, 8.65 million Landmarks shares were sold by UOB KayHian Nominees (Tempatan) Sdn Bhd on behalf of Mark Wee Liang Yee, Winning Elite Holdings Ltd, Rilms Singapore Pte Ltd, Zimulia Sdn Bhd and North Symphony Sdn Bhd. The sale cut their deemed holdings to 69.2 million shares or a 14.39% stake.

Meanwhile, the Employees Provident Fund Board ceased to be a substantial shareholder of Yinson Holdings Bhd (fundamental: 1.5; valuation: 1.5) after disposing of 1.13 million shares (0.11%) on June 29 and 30, leaving it with a 4.9% stake. The transaction price is unknown, but Yinson traded between RM3.04 and RM3.15 before closing at RM3.05 apiece on the two days.

In a July 7 statement, Yinson executive chairman Lim Han Weng said the EPF had bought 60 million placement shares at RM2.83 apiece, raising its holdings from 4.9% to 10.13%. This had not been reflected in a Bursa filing at press time.

Notable movements

Closing at 57 sen last Wednesday, Destini Bhd’s share price has retreated to where it was just over a month ago on June 5. This is down 15.6% from 67.5 sen on June 26. The recent share price rally came in the wake of a June 24 announcement of a RM90 million proposed acquisition of paramilitary boat and vessel maker Destination Marine Services Sdn Bhd.

Filings show that substantial shareholder Cayman Islands-based Harbour Asia Opportunity Master Fund raised its holdings in Destini (fundamental: 1.7; valuation: 1.1) by 2.3% (18.4 million shares) to 10.72% between June 24 and July 2 at undisclosed prices.

Poultry farmer Teo Seng Capital Bhd (fundamental: 2.3; valuation: 2.1) saw its shares rally at the beginning of the year, gaining as much as 83% at its 52-week high of RM2.21 on March 26. Since then, most of that gain has been wiped out, with the stock closing at RM1.24 last Wednesday.

Koperasi Permodalan Felda Malaysia Bhd (KPF), its second largest shareholder, ceased to be a substantial shareholder on June 29. Its stake fell to 4.84% after it sold 482,300 shares. Together with the one million shares disposed of on April 1, KPF had sold 1.48 million shares or a 0.49% stake, a filing dated July 2 shows. No transaction price was disclosed, but KPF sold the one million shares near the recent high. At the RM2.03 close on April 1, the block would be worth RM2.03 million.

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This article first appeared in Capital, The Edge Malaysia Weekly, on July 13 - 19, 2015.

 

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